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them. >> rose: we close this evening with a conversation about the global economy with india's minister of finance. >> you see, we require massive investment to build our country. the bulk of it comes from domestic savings but we still require at a margin, foreign investment, for that brings technology. that brings invasion, that brings better management skills and management management practices. it opens new markets for us. it introduces us to new products. that is the advantage of getting fdi. >> the texas explosion,s bots to-- boston investigation and the global economy when we continue. >> rose: funding for charlie rose was provided by the following:. >> rose: additional funding provided by these funders. and by bloomberg provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. . >> rose: we begin this evening with the explosion at a fertilizer plant in west texas which is near waco. here is the explosion which took place last night. at last count five people have died and mo
,s bots to-- boston investigation and the global economy when we continue. >> rose: funding for charlie rose was provided by the following:. >> rose: additional funding provided by these funders. and by bloomberg provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. . >> rose: we begin this evening with the explosion at a fertilizer plant in west texas which is near waco. here is the explosion which took place last night. at last count five people have died and more than 160 injured. it produced ground motion equivalent to that of a magnitude 2.1 earthquake. the mayor of west said it felt as if nuclear bomb dded. buildings within a five block rad yux-- radius were damaged. the search for survivors is ongoing. investigators are trying to determine the exact cause of an explosion. a small fire is believed to have spread to fertilizer tanks. governor perry held a press conference earlier and here is what he said. >> also spoke to the local officials to make sure they have the supp
the economy to improve, but at a slower rate than the united states and develops nations. he's attending the g20 finance minister meetings. from the council on foreign relations, this is an hour. >> [inaudible] >> well, ladies and gentlemen, i'm cochair of the council on foreign relations, and we are privileged, indeed to have with us the honorable, highly experienced german government offiho crrently serving a minister o finance. you have the resumÉ, we are running late, and to maximize time for conversation, i'll be undipmatically brief, but let me say that minister has held four positions of chandler cole who served as federal minister for special tasks, head of the council and minister of the interior. under chancellor merkel 2005 to 2009 served as ministers of the interior. he is a long standing leader of the christian democratic union serving as its chair in 1991. he's bee a 1972 serving as parment ri whip from 1981-84, and in 1990, led negotiations for the reimplication of east east germ. he is proficient in economics of law, a doctor of law, and he's written a number of books most rec
, that doesn't involve risks to the government micromanaging the economy. if you say okay which is going to have a flat tariff of 10% or 20% or 30% whatever it takes to get to a zero trade deficit that doesn't introduce a lot of corruption or a lot of dangers bad policymaking because it's a very simple policy. it's just determined by an arithmetical formula and there's no opportunity for anybody to play games. one of the good things about it if you have a flat tariff, is if you had a 30% tariff on imported goods that's not enough to relocate the production of t-shirts that united states because cost is too great. it's great to relocate things like silicon wafer fabrication so would tend to relocate back to the u.s. high value capital-intensive skill intensive industries which is of course what we want to do. those are the industries that are high-quality -- high-quality into she wants to have and those are the industries that don't want to lose. i point that out just to point out that if you do get serious about protectionism, protectionism has a logic to it which if you understand what
. gold also had a positive day. but i believe the plunge in gold is a very good sign for the economy, just as it was in the '80s and '90s. in other words, some optimism. and senator marco rubio unveils the new immigration reform bill today. here's the key point. when we look at the benefits and score them dynamically, immigration reform will be a huge boost to the economy. "the kudlow report" begins right now. >>> first up tonight, president obama will travel to boston thursday for an interfaith service with bombing victims. more than 24 hours after two bombs ripped through marathon crowds killing three, wounding 170 others, investigators are still no closer to answers. late this afternoon, the fbi said no claims of responsibility have been received, and the search for suspects is wide open. deborah boxdy joins us now from boston with all of the latest. good evening, deborah. >> reporter: good evening, larry. i'm live here along boylston street in the heart of boston, about four blocks or so away from the marathon's finish line, where those two bombs exploded just one day ago. securi
the attack may impact american business, our economy and our nation's capitol and overall national security. steve moore from the "wall street journal" wonderful to have you in studio. the politics dealing with the aftermath of a terrorist attack? how does it improve the tone of partisanship in washington. >> anytime you have a national attack like this people pull together. i was thinking of the two major issues in washington. lori: immigration and gun control. >> those are two we've been hang link over months and months if not years. that is interesting i think it could have negative impact on both issues. lori: how so. , if it turns out it is saudis or foreigners, it will, it will, play into this kind of nativist, keep the foreigners out mentality. that is going to be a negative thing. in fact some of the senators and congressmen already said that maybe we should slow down on immigration reform. lori: wow! all the debate on immigration was held behind closed doors with the "gang of eight". that itself was critical because of the lack of transparency. >> interesting just today the "gang o
to focus on the longer term fundamentals, which we still think are pretty good. the economy is still growing. earnings are still growing. the fed still pretty supportive. certainly volatility has picked up a bit this week. and we expect that to continue here in the near term. >> that's what i was going to ask you. assuming that this manhunt is solved and the suspect is apprehended this weekend, turning to monday, how do you think things are going to play out? what is going to happen next in the market? is volatility still going to dominate trading? are the markets going to go up? are they going to go down? what is your prediction? >> i think you have both macro and microtrends next week. as you said in the lead there, about 20% of companies in the s&p reported earnings. but it really gets heavy next week. we have about 170 companies in the s&p 500 reporting, and about ten dow components. and earnings have been mixed. they have been okay. topline has been a little soft. as bob pisani said, only about 45% of companies are beat top line. it reflects the sluggish global economy that we h
the stock averages and they've been told the economy is doing great, so what's changed? you know, what's changed is that we got a little complacent. i think everybody looks at the market and says we weren't really fulling gauging what might happen if the economy slows down or doesn't speed up. i think today was just the wreck reckoning for a lot of those concerns. >> we've been in a period where people are expecting a correction from whatever highs we've been hitting here lately. do you think this is the beginning of that correction right now? >> i think we're certainly seeing a bit of a correction. i don't know how much more it has tooz, however, because fundamentally, we have very low interest rates and u.s. corporations are still posting record high levels of earnings against the backdrop of a weak global economy. if we get a big downdraft from whatever happens out of boston or some other factor, that's a real risk factor, but near term, very strong earnings, hard to argue with stocks with that backdrop. >> you just mexed the boston marathon incident. we doebt have the complete stor
closer. wherever you are today, idelity's guidance can help fine tune your personal economy. fidelity investments. here. >> at union bank our work hard p managers to know your business. offering specialized solutions in capital to help you meet growth objectives. we offer expertise and tailored solutions for small businesses corporations. what can we do for you? watching gmt on "22 news." attack on u.s. soil since 9/11. today. our focus what should have been a moment of joy turned to a time of carnage. president obama says justice will be done. > make no mistake, we will get to the bottom of this and we and find out who did this we will find out why they did this. >> the devices exploded near line a favorite spot for spectators. manythan 140 were injured, in a criminal conditio-- critic condition. people started throwing down the barricade and running over each other. ran the other direction. >> the f.b.i. has taken control investigation. the big question, was it international or domestic terror? aaron is here with business and talking music. >> it is all about how do you get your mu
. maybe this shows it is very positive from the standpoint of the economy, if you use dynamic scoring. if you use statics deploring it is not and cannot so well. -- static scoring it is not going to come out so well. i have a question for the other witness. you said this in your statement tionhis is aasnab. the obvious question is whether or not there are sufficient jobs for average americans and illegal immigrants. the answer is no. >> as i indicated to us recently. latere have a participation rate we have a supply of low-skilled labor. it appears that what do is leapfrogging those individuals. we have millions upon millions of americans, not just black americans, but millions upon millions who do not have a job right now. i think it is a good idea to inform -- to reform immigration system but regard must be given to the fact that we have an over abundance of people not working today. we are at rates we have not sn in 80, 75 years. it is astonishing. if we have regularize asian of a greater pool of individuals who can compete on a one by one basis with americans here today those indi
of tumultuous, russia's president is coming under controver controversy. while russia's economy hadn't performed badly last year, falling commodity prices risk pushing the country into recession. these comments come just hours after president putin threatened to fire officials for not following his orders on public spending. geoff cutmore is outside this event. what are you hearing about these concerns and the russian economy overnight? >> reporter: absolutely. fascinating issue. we clearly see some risks emerging in the russian government at this point. and i just want to put that issue to one side for a moment. because i have with me li jiaoung. he is a former chinese minister. i'm fortunate to get the opportunity to talk to him at this event. thanks very much for speaking to me. if i could just start off by asking you, clearly, the world has been focused on the terrorist events in boston and this tragic, very un pleasaplea event. i wonder if you could dwifs a perspective from the chinese point of view here because nobody wants to see terrorism and in particular i think the chinese have an int
. this looks that the impact on jobs and the economy. >> immigration. the average american wants to -- >> grace wiseman second place winners in the student cam, petition. their message look set a legal immigration and the impact on jobs in the u.s. economy. >> immigration, allowing people to enter our borders can be beneficial to immigrants and the rest of the country. >> when it comes to immigration, it is not right versus left, republican vs. democrat issue. it is those who have power to influence policy. and the average american heart regardless of political affiliation does want to see immigration laws enforced. amnesty. chris immigration laws. take up the highest unemployment rate right now is the young people. -- >> the highest and a plummet right now is the young people. the problem is is the way we have done it, they do not pay tax. you have to pay tax. and the employer would pay the tax. a ford are did not pay because it will not be here -- foreigner does not pay because they will not be here long. but we did not have the employer pay either. if the employer hires you, you will have to
or does it matter if an economy will print or grow or whatever? >> the study which said once government debt hits 90% of gdp growth goes off a cliff has been thoroughly discredited and they must kick themselves that they made a mistake on the spreadsheet. people pay attention to the paper which has just come out that shows that this is a pretty sloppy piece of work. the conclusion drawn in terms of the impact of high debt to growth has been basically discredited now. it's fairly clear that governments have a lot more scope to deal with problems. >> was china wrong to pursue this strategy then to help cushion the effect of the global financial crisis and even though people are quite concerned about it including some of the chinese themselves, it sounds like from what you're saying all things considered you don't see a hard landing or crisis as a result. >> as you always say in china, it's too early to tell. i think they have a margin to get things right. if you look at greece, they went into european monetary union and have this lovely window to fix things. a lot of credit with foreign i
includes a substantial drop we experienced with the recession in 2008 and 2009 and a fairly week economy since then. it says that people do value hard copy correspondence from businesses. they want that information in hard copy and they're resisting the idea of going totally digital. we've heard of people that did do that and either piss manied a payment or got nervous and said hey, start those bills back up again. don't write the obituary for first class mail. it accounts for $28 billion of revenue for the postal service today and i guarantee you it's the going to be around for a long while. the most promising part of our business in terms of growth is package delivery, which is up ricin threat. mail got delivered. you saw what happened with hurricane sandy, the mail got delivered. day in and day out, do an excellent job and the postal service plays an important role in the american economy but today it has a business model that is broken. the good thus -- news is that it can be fixed. it requires we ask fundamental questions about what kind of postal service is best for america in the
agricultural workers to seek nonfarm jobs as economy improved in the 1990s. the special agricultural workers who left farm work were replaced by new arrived unauthorized migrant. by 1997 and 1998 it was estimated that the special agricultural workers were only about 16% of the crop workers. so, mr. connor, aren't we afraid or shouldn't we be afraid giving legal status to people here illegally will repeat the mistakes we made in 1986 putting the ag industry in the same position in the long run. in other words it comes about because of farmers come to us and they need workers. okay. we bring in the workers. then they migrate someplace else and people illegally came in after wards. how do we avoid the mistake we made in 1986? >> senate grassley, your question is a great question. it's -- it goes to the heart of fundamentally of the basis of our negotiation that on o- curing in senator feinstein's office. the blue card program for the current existing trained work force is an important component. equal we don't know with absolute certainty over the next decade or so what is going to be the statu
insight on the global economy, as well as the impact of new security concerns in light of the tragic and deadly bombings in boston. >> yeah, it was of course, at this hour when we first learned yesterday of the horrific events unfolding in boston. that is where our scott cohn is right now with the very latest. scott, one day later, what can you tell us? >> reporter: maria, 24 hours after the horrific attacks, it is still an intense crime scene behind me, as authorities try to search for any clues about who did this and why. u.s. attorney general eric holder out with a statement a short time ago, again, calling on the public to help, saying no bit of evidence is too small. they are looking for cell phone video, anything that can help them figure out and piece the facts together. we also know that the boston athletic association, which stages this marathon every year, had three surveillance cameras at the finish line. the company that provided those cameras under a sponsorship agreement tells cnbc they are cooperating with authorities. we will see whether that yields anything, but what
rights prevail our countries where people do better, economies thrive, rule of law is stronger, governments are more effective and more responsive, and they are countries that lead on the world stage and project stability across their regions. strong respect for human rights isn't merely an indicator that a country is likely doing well. it actually unleashes a countries potential, and it helps to advance growth and progress. so i ask you just to think of the country like burma for a minute. because of steps towards democratic reform and stronger human rights protections, a country that had been isolated for years is now making progress. as it reached where we wanted to be? know, but it's on the road. it's moving. and more people are contributed economy and participating in the government, leading toasr growth andnt. and by starting to embrace universal rights, the burmese government has opened the doors to a stronger partnership with their neighborhood and with countries around the world. many challenges remain. corruption has to be rooted out. remaining political prisoners nee
plans down the road. it's a fox business exclusive and a good read on the economy. that's next. as the an anticipation for apple earnings reports mount, we'll look at the best selling mobile phones, not just now, but of all time. phones that you may be surprised to see that app iphone is not in the top three. stay tuned. ♪ ♪ @ why are 8 million people why are 8 million people sleeping better tonight? they went to a sleep number store. the only place in the world you'll find the sleep number bed. a bed with dual air technology that allows you to adjust to the support your body needs. each of your bodies. the only place you'll find our bed-clinically proven to help each of you slee more soundly. and the only place you'll find sleep professionals that will help you find a number that will change your life. your sleep number setting. you won't find any of these innovations in an ordinary mattress store. you'll only find sleep number at one of our over 400 stores nationwide. and now you can save $400 on the only memory foam bed with sleep number technology that adjusts to e
they will have going forward on our economy. dagen: peter barnes has much more on this. peter: we looked at research reports on the impact of attacks of 9/11 back in 2001. the current economy has shown some softness recently in job creation and retail sales. any hits to consumer confidence may make things worse. two economists that i have talked to this morning do not think it will get too bad. the 9/11 attacks were targeted for the financial systems. consumer confidence rose sharply after the 9/11 attacks. experiencing the biggest monthly drop in a decade. the attacks caused more than 400 mass layoffs and displaced 130,000 workers. industrial production fell back then. the unemployment rate jumped more than a half a percentage point. we were already in a recession that september. we are not in a recession today. boston is not an economic center. >> maybe a day or two people will be hesitant about going out shopping. assuming nothing else happens, it should last much longer. peter: it could take a short-term hit because of boston. they are more worried about the impact on the economy and
that it doubles down on a dead end energy policy that's hurting our economy, hurting our environment and our health. burning fossil fuels is a primary cause of climate change, and we simply can't afford to continue down this destructive path. it makes far more sense to focus on developing the clean, renewable energy technologies that we all know we're going to need down the road. developing these technologies will create quality, long-term jobs that can't be shift overseas. it's good for business. it's good for our planet. it's good for our national security. there's no reason why we can't put aside our differences and take action to promote a clean energy future. it's what our constituents sent us here to do. our window of opportunity is rapidly closing. the time to act is now. and i yield back. the speaker pro tempore: the gentlewoman yields back. for what purpose does the gentleman from california seek recognition? >> madam speaker, i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> madam
a majority in congress since 1997. the mexican economy has expanded mexican have maintained growth since 2009. fromdp has increased $7,979 in 2009, to 2146 in 2011. in purchasing above 15,500. on gdp growth, almost four%, a higher rate, and is expected to grow 3.5% in the year. this is measured by j.p. morgan. mexico is also taking care of its people. the brookings institution has highlighted that 60% of mexicans are middle class. by 2030, 80.5% of mexicans will be middle class. housing has increased more in the early 1's. all of these factors that have taken place review the immigration pressures of the past. academic think tanks estimate that net migration between mexico and the united states is close to zero. a recent survey shows only 11% of mexicans say they would leave mexico if given the opportunity. a decline of about half from a 31% 2007. -- in 2007. over the last few years, our common border has increasingly become an area of prosperity. more more dynamic and secure than it has ever been. four in the united states and six in mexico, have a population of 92 minute -- 90 million peopl
say that the last ten years has been very bad for the economy. we've lost a lot of valuable resources and a lot of the momentum that we've had on. before, we had open markets and entrepreneurship and that's what helped china succeed. we have to go back to market forces as well as fight construction. >> so juan nubol there talking about the last decade. he was the guy that tried to buy 300 kilometers of ice and is we'll talk about that a little later, as well. clear now there is a hope for reform. i'm pleased to say kung mingh, the founder of lenovo who bought the business from ibm, he explained to eunice what he wanted from private reform to help private business in the country. >> translator: my view is that the chinese government should adopt a more systemic and comprehensive approach, for example, how to escape a better sense of reform in this country so that the public will have more confidence in ensuring the culture of mutual trust can be established. >> what's interesting is that this group, also becoming more influential in political circles. we'll hear a little later from the
the economy french economy is in. now, the german survey responses say the economies were worried about the impact prices. in france, they're much more domestically focused with some suggestions that things couldn't get any worse. >> well, the domestic situation is already a known negative. just to recap for viewers, as well, the composite, which includes both the services and is manufacturing, pmi came in at 46.5 in april for the eurozone. that was just ever so slightly above the 46.4 estimate and manufacturing came in 46.5. the services figure was 46.6. but, again, it's some of the weakness in the core economy of germany that's catching the market's attention this morning. the euro weaker, the xetra dax off by about 0.2%. we're going to get some uk data out at 9:30. also coming up on the show, the how companies are battling to take a foothold in the alternative energy market in china. then at 11:10, we'll be joined by jim o'neill as he nears the end of his tenure at goldman sachs. we'll get his best and worst investment calls from his time in the city. we'll hear up for earnings from
improve their lives and their families' lives, it will strengthen our country and our economy. the server the would- conservative economists has found that -- the leaseholds beacon has found that immigration reform would -- would save the country $11 billion. the bill has been online since tuesday night. we will not begin marked up until the first week of may, giving everyone three weeks to read this bill and prepare amendments. chairman patrick leahy has pledged an extensive markup. the committee improves -- include some leading opponents of immigration reform, who will have a chance to challenge our ideas. this ensures the bill will emerge from committee battle tested. we will have a full debate on the floor. senator harry reid has pledged to take it up no later than june. as with any compromise, no one got everything they wanted. there were moments when it looks like an agreement would not come. the negotiations over its future flow program were particularly intense. realizing the high stakes, the business community and organized labor rows to the occasion. richtom donahue and trumpkin
francisco, oakland, seattle, and tacoma combined, upon which a bulk of the u.s. economy relies. we must strengthen recovery in the event of a biological attack, which is still the most worrying threat out there. we need to make sure that the public understands the nature of these threats and how it can help identify and respond to them. above all, it needs to understand how not to respond to them. when bad things happen, it's easy to react out of fear, emotion and anger. let's hope that in boston this week we begin to chart a different course. for more on this, you can read my column in a special edition of "time" magazine on the tragedy in boston. let's get started. >>> joining me now the man who runs the biggest police force in america and one of the country's best intelligence divisions, ray kelly, the commissioner of new york. what do you have to tell us in the aftermath of this? is there a heightened sense of danger? are you seeing threats proliferate? >> no, we haven't seen an increase in threats, but our operating assumption is that we're always at risk. we're a city that obvious
're going to talk markets, the economy and much, much more. stay tuned for that and a lot more. >>> welcome back. now to the markets. it's going to be a big weekend ahead. joining us, lou brian. lou, place your betts. more likely up or down for the dow this week? well, you know what? i tend to look technically at the s&p instead of the dow. >> how about the s&p? it's a broader market index, even better. >> all right. i think that the interesting thing is that where the s&p held last week, this 1540 is a mark that held in march and early april and, again, last week, we went just a little below it. also in play around that level is the 50-day moving average which held the market a couple of times. if you're looking to get long on a tray, that's not a bed level because you kind of know where you're wrong when it goes underneath that. i think the interesting thing with the stock market is that it's really the only market right now that's playing along with the fed's qe brochure. don't fight the fed. buy on fed accommodation. the crude oil, the gold, copper, various commodities are lower since t
$100, and in september of 2011, copper price a reflection of the week call for the global economy, china news earlier this week, bearish, copper prices down 6%. if you're looking for gains, the agricultural sector saw some, and, and natural gas of 4 present. and someone you did the action in today's session. and $100 from the close of around $400 a troy ounce. and gold will average 1450 a troy ounce, in 2014. we also see reports of stronger jewelry demand, gold has come down significantly, some buyers stepping in at these levels and copper falling out of favor of this week on weaker reports out of china and also copper is down 6%. lots of volatility, wrapping up the week more muted reaction. melissa: let's check the markets and go to the stock exchange. lauren simonetti is standing by. >> the volatility sandra is talking about is the volatility we are seeing here on wall street. what a week. the dow can't seem to stay or get into the positive at this hour but the nasdaq and the s&p are higher, this has been the worst week of the year for all three major averages, the worst week si
. we had enough bellwethers, in tech and items, other areas of the economy to get an idea how earnings are going. what does that tell but the overall economy, what we've seen so far with earnings, john? >> our view is we're still in very luggish growth and real opportunities are coming out of the easy money policies of the central banks along with the emerging middle class in the developing world and so we're looking at, we're very bullish on commodities. we're very bullish on companies that produce those. companies that are helping find oil, that have sophisticated technology in the oil service area. we think the overall market is really still in a secular trading range that it has been in for the last 13 years and up at the upper boup drills of that. liz: john, are you spooked at all what seems years ago and it was earlier this week, the gdp of china missed estimates? it was lower than expected growth? and you still believe in commodities why? because a lot of chinese still need to be fed and need to build skyscrapers? what is the your focus here? absolutely. 7.7% gdp growth is still
there that the economy is losing steam, especially with the stock market plunge that we have recently seen? - well, i think clearly there has been some disappointing economic data. maybe it is the fear that we all had with the government cutbacks and also the tax hike that we had - that's the increased payroll tax for social security that we saw - so that is biting into the economy. but clearly, almost all the data, not only here but around the world, has come out weaker, so that is real; and combine that with some disappointing earnings on balance, and i think that is cause for concern or pause for the market right now. - gold futures made a mighty move to the downside this week. what are you seeing in gold mining stocks? - wow, i tell you, it was a real blowout in gold. gold is one of those assets, but i look at gold back in '08 was, i think, a low $600, and it is now still, what, close to $1,400? so, a set-back was ok, it was just one of those classic commodity washouts. gold miners, on the other hand, they have lagged the price of gold for the past several years at least, and a lot of that has to
: seasonally strong time of year for home sales. overall, the u.s. economy is running below its historical trend. this is a study done by the index. my next guest says the economy sluggish growth may be the most ideal condition for investors. joining us is now jack. welcome to you. >> thank you, lori. lori: you see this as a prime opportunity. some new investment dollars could go into the stock market. >> yes, potentially. fair value in the market is probably about 1520. we are slightly ahead of that. we have a lot of favorable factors. one, keep money. we have stocks that look cheap. if we can get confidence, you know, of investors, but also builds confidence picking up, i think you could see treasurers and armature treasurers start to exploit that difference. as long as the fed keeps the backdrop in place, then the market can go higher. we do not want to fall into a double dip type of scenario. on the other hand, we do not want anything too strong to suggest that perhaps the fed will take its foot off the accelerator. lori: if you have new money to invest, what type of stocks would you p
market since the start of this cycle. weakness in oil could portend investors worries that the economies are slowing down not just in china but globally as well. so that will probably put pressure on the market. the other thing too, we're in the earnings season and this might be the quarter that doesn't delight. that is that we do get some dispoints manned -- disappointments and we get stiff reactions to the disappointments. lori: bob, you were cautious yet looking for stocks to show gains for the year. what do you think will get us past these bumps in the road? >> i think the bumps in the road should not be unexpected. the market is up 20% since last june. so it is not unusual to have a five to 7% correction at this stage. following on gene's comments, we are in earnings season. interesting when you look this year, i think that will be stimulus for further correction. expectations are 5% increase over last year for this quarter. 7% for the second quarter. 18% for the third quarter and 28 for the fourth. i think as companies report, analysts will be really focused on what the guidance be
korea says they will inject more than 15 billion into the economy. says it willorea inject more than 15 billion into the economy. the money will be used to create jobs, build the stagnant real estate market and cover a tax revenue shortfall. pakistan's former president will not be allowed to run for the national assembly in upcoming elections. he had been cleared to campaign for northern pakistan but now being disqualified. he has been barred from running four l fou -- in all constituencies he applied for. a new session of parliament in kenya. the arrival one in a closely- contested vote last month. we're joined from our reporter in niobe -- nairobi. >> we are just outside the parliament now. we are expecting the president to arrive very soon. he will inspect the guards and enter the parliament behind me, and he will give his speech to what is the 11th parliament here in kenya. now, in his inauguration speech he really tried to ignite the country behind him. formillion people voted him. there have been meetings between the men at the state house here to try to reconcile these different
." >> major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> suarez: rescuers worked in wet weather today to find survivors amid the rubble from the fiery explosion at a texas fertilizer plant last night. late today, authorities acknowledged there were fatalities but declined to confirm how many. earlier estimates ranged from five to 15 though there were reports the toll would go much higher. the cause of the fire and explosion is still not known; officials said today there's no evidence of foul play. a man using his cell phone captured the moment last night when the west fertilizer company plant exploded. that flattened buildings withi
teach japan economy at georgetown. you're making the summit interesting again. the interesting problems that you face, and i d not envy you, is you said the fits call consolidation, the consumption tax will go up next year and the following year, and you're certainly aware that will take a big hit on consumption on income that will have a negative impact on the economy, and i'm wondering how you're balancing these two different issues of fiscal consolidation and demand. [speaking japanese] >> translator: i think you have hit on the most important point, because whenever we may try to increase the taxes, it does not necessarily result in increasing the tax revenue. we have known the actual examples which have happened in the past in many nrsakg ne >> you can watch the rest of this online as we take you live now to the heritage foundation in washington, d.c. for remarks by senator mike lee of utah. he'll be talking about the conservative movement and the future of the republican party. >> in his most recent book, "we still hold these truths: rediscovering our principles, reclaiming our fu
, but until the economy improves they're the not going to get out of the way and i think because of that, this market will go up and more talk about that this week. >> we're only what, a couple-- we were down on the week about a couple hundred points, that's not a major selloff by any means. larry, thanks indeed. you're saying the market is trying to go up, we shall see. we have a news background, not yet occurred, at ten o'clock, half hour from now we're going to get the existing home sales, a very big pointing that is supposedly improving housing market. you'll get the numbers as we them, too. i want to warn you, coming up on friday, the latest gdp numbers, they're going to be inflated and show a rate of growth maybe 3%, very strong. but, there's a new calculation involved. so watch out there. the dow is now open for business. we're up 5 in the very early going, yeah, the up trend in place, first thing this monday morning. and why are we going to show you the price of a foreign corporation? why are we doing that? i'll tell you because the japanese stocks are going straight up as the ye
worried about china especially about the economy after the lower than expected growth numbers that we saw this week. and he addressed that. he was talking a bit about the concerns about rising debt levels and he played those down. he played down the weaker growth. >> i don't think people should panic about chinese economy will continue to grow at the sustainable level. the government's target could be fulfilled without much difficulty and we aim at the quality of the growth. i don't think achieving 7, 7.5% is a big deal for china. i don't think so. >> the fund invests heavily in resources. i couldn't help myself from asking him specifically about gold. he believes the sudden drop in gold is general instability in the global economy. he hopes it comes back at some point soon. >> thank you very much. we were watching that and that's the perfect segue. we've been watching what's happening and it's important to see what the chinese think about this and no better person than cic chairman. we'll talk about gold and what's been happening not only with gold but also oil prices after yesterday slu
. it is the perfect example of the program benefits for the economy and local community where jobs are scarce and a part of vermont where conventional lending is not an option. we appreciate the inclusion of permanent authorization of this important program. we also very much appreciate inclusion of the reforms to the program, highly important to employers in the seasonal industries. ski resorts in the winter, beach communities and this summer rely on these workers to not -- and not only prove to be excellent employees but bring a cultural experience to states that do not necessarily enjoyed a great deal of diversity. when a trained employee can return for several years in a row, it is a great benefit to all. we thank you for including the sections into the bill. in order to enhance security while adding -- in order to enhance security while also facilitating legitimate travel and trade, we strongly support the addition of but 3500 custom boer patrol officers included in the legislation. in order to ensure that officers are allocated properly, we urge the committee to work with cpb to specify
will not be at jac jacn hole sim this year. my next guest said that we're seeing a slowdown in the economy after a stock first quarter, joining us, wells fargo chief economist, john sylvia, you see a slowdown here? >> there is a slowdown that is what bothered market, stock market a little bit, we a single family housing stocks, retail sales disappointing. building into the commodity market, chinese economic growth is disappointing. people at the inning of year think this economy will take off, and earnings will be strong, then as year goes down they tamper down those expectations. >> you know there is one stock that stands a metaphor, caterpillar, we see them with disappointining results off 42 their earnings, because they are off in the mining sector, but they tell us about good news, just the op ship of what said in -- opposite of what you said in china in their outlook. >> caterpillar is a true global business, they have a lot of infrastructure, a lot of mining and lot of development in many of the asian economies, looking at u.s. companies as traditional as manage mcdonald's and coca-ca ha
? >> my instinct tells me that the answer is no, that in economic terms i think the market, the economy at large will move beyond this relatively quickly. but at the same time, there may be some lingering impact in terms of investor sentiment. the sell-off clearly that occurred on friday and then again on monday, in my opinion, was a reassessment of the pace of global growth. important to point out that most of the weakness yesterday was already in the market before the bombings took place. but clearly, there is an impact on investor sentiment, a reminder that it's a dangerous world. and so you may see a little bit less of a risk appetite going forward. in economic terms, i think we'll move beyond it fairly quickly. >> yeah. john, i guess you would ask, at this point, you wouldn't think that consumers would change behavior based on this. it could potentially aveng -- i don't know, whatever group you want to talk about, jonathan, restaurants or any type of tourists activities. nothing to expect at this point, do you think? >> if you said to me are consumers going to be spending time watc
, boost the u.s. economy as supporters claim it will? lou dobbs is here. lori: let's update you on the markets as we do every 15 minutes, happening fast and furiously. we have the first check in this hour with nicole. what's the word on the floor among traders there, nicole? >> a couple things to note, obviously, we were selling off, back looking at what we looked at on monday, monday, we dropped 265 points, below even those levels. the vix, fear index, up 20% easily showing the nervousness in the market. selling across the board, particularly in economic sensitive areas like energy and technology, and apple, for example, below $400, and we'll is more on that throughout the show. the one thing to note is the volume is not as heavy like we saw on monday. there's less volume and less conviction to the selling; however, the selling is happening across the board. there's economically sensitive areas like financials bringing me to bank of america. reporting their quarterly numbers, look at bank of america. this weighing on the dow jones industrials, but more importantly, bank of amer
: thank you for coming on. dagen: government funding is a nonstarter, not a kick starter for the economy. that will not get in the way of the white house trying to spend more money speak that is true, dagen. people in a sense almost do not real. government spending went to this huge peak after tarp. over 25% of our economy. it has now fallen as a share of gdp. we are down close to 22% of gdp. it is still too big. government is actually falling as a share of gdp. first-quarter, the quarter that we just finished will get data for that in about a week. we are expecting about 3% growth. that is pretty good news from the economic front. dagen: is that already factored into this stock market? >> well, at least in the short term i think you are right. i believe the stock market itself is undervalued considerably. in other words, if you go back to early 2009, it is really the rise in profits that has driven this market. if we get any extension, what the investment community called multiples, the stock market could go even higher. the dow is worth it fair value 18,500. we have these pullbacks eve
despite the fact that these jobs are among the highest paying and the most stable jobs in our economy today. it is imperative that we encourage more young americans n.i.t. e studies in the fields. in particular because of the stark racial and gender gaps we see in the programs, it is imperative that we encourage more young women and students of color to enter these fields. we simply won't be able to remain a global leader in these mportant fields without more -- with more than 50% of our nation's brainpower sitting on the sidelines. h.r. 967 doesn't go as far as i would like it to go in addressing these challenges but it does show the need to educate more students in n.i.t. fields and provide the necessary authority for the agencies to pay an important and appropriate role here. and finally, i would be remiss not to mention that nitr-d program serves as a coordinating and planning umbrella for all unclassified federal cybersecurity r&d. our committee addressed specific needs in cybersecurity , r&d separately in h.r. 756 but in doing so, we made sure that both the intellectual and fina
with the underpinnings of education and issues like that then allow us to be competitive in a global economy. i think the potential is there. we need to get our act together and that means we need to sit down, work together and resolve issues. .ost: larry, ohio independent caller. caller: good morning. host: good morning. caller: this gentleman keeps referring to the crime scenes, the violent crimes. 99% of us gun owners are law- abiding and that is the way we use our guns. internet sales -- you cannot ship a gun in the united states unless it is shipped by a fll dealer and once you receive that done at your dealer, you have to go through background checks. on the crystal ball thing -- host: larry, let me leave it there and have the congressman respond because that is the front page of "the new york times" dealing with internet sales. what do you make of his comment? guest: first of all, we do have background checks today, but the problem is there are loopholes. the number is about half of the gun sales in the country are not subject to a background check. some are emaciated on the internet. some are
into the future. they're estimating the pace of growth for economies around the world. joining us now from the business desk. good morning. what do they see? >> good morning. the results overall point to slower growth. those in japan suggest things are picking up. the international monetary fund has upgraded japan's economic outlook the next two years on expectations the country's bold monetary easing policy and weaker yen will help boost its economy. imf officials released the world's latest economic outlook and slowly downgraded the world economic forecast. and predict it will grow 1.6% this year, up .4 of a percentage point and they doubled the growth forecast next year to 1.4%. they expect the bank of japan's aggressive monetary easing to boost the growth rate. >> japan is forge iing a path o its own. it may have been more likely to call this a 3 1/2 recovery rather than a speed recovery. >> although the yen value has declined significantly in the recent past, the monetary policy followed by the boj is appropriate but at the same time, imf officials urge japan to work out a long term f
and the economy did not help the last 10 years to make that story any better. so with that, i want to just give a hearty thanks to maria's leadership for the last decade-and-a-half for putting together this project and her continued perseverance to make this happen. today we celebrate the sale of the land for the transbay transit tower. to the entrance transbay transit authority, for the first time i met mr. heinz, i can going to hang out with them more because i have heard a lot of stories between you that will help me run this city better. i will say that when this transit tower is complete, it will have the impact of transforming our city skyline with the tallest structure west of the mississippi and chicago. i'm about to leave for china tomorrow, and i get to go to china and tell them we've got the tallest building west of the mississippi, what about you? they are probably going to tell me they have tall buildings there as well but we at least have bragging rights. the state of the art, sustainable features, a plan, 1.4 million square foot office tower, developed, owned and operated by he
the state of the economy. other people are talking about technical reactions, but also the numbers from the usa are not as good anymore. bank of america reported results that have been far on next -- under expectations. >> we will stay in frankfurt for a closer look at the numbers. the dax -- it is down by more than 2.3%. the euro stoxx 50 is down by more than 2%. across the atlantic, things there are also down in negative territory. the euro is drifting lower against the greenback, trading at a value of 1.3044. >> the british retailer tesco, the world's third-largest, says it is pulling out of the u.s. market. profits fell for the first time in 20 years. >> empathy says it wants it wants to refocus on its british operations ash the company says it wants to refocus on its british operations -- the company says it wants to refocus on its british operations. >> millions of germans were disappointed today when they went to get their mail and, lo and behold, the letterboxes were empty. no holiday postcards from friends. that's because thousands of postal workers have gone on warning strik
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